Servicing

James Campbell joins a bank whose mortgage operations generated $178 million in third-quarter revenue.

The company sees an opportunity as its competitors have to sell to make up for lost income due to tighter origination margins.

Numbers have fallen on a consecutive quarter and 12-month basis in half of all states but are likely to increase following the gradual end to the federal foreclosure ban, according to Attom Data Solutions.

The increased complexity of loss mitigation in the wake of the pandemic has increasingly prompted a growing number of mid-sized players to outsource, so constraints on one player could affect others.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

To avoid a crisis similar to in 2008, protection needs to be in place for the mortgage industry. Soon, flood insurance will need to be standard for almost all coastal areas, which will be a considerable cost, writes the CEO of Repair Pricer.

Around 432,000 homeowners exited their pandemic-related payment suspensions in the first 19 days of October and more than 280,000 plans have month-end review dates, but the number of private-loan plans increased.

This increases the opportunity for the company to keep in touch with its HomeSafe and EquityAvail customers between the loan closing and when it becomes due.

Counties in the West faced the least risk from pandemic distress in the third quarter, according to Attom Data Solutions.

One winning bidder, who bought two of the four pools in the government-sponsored enterprise’s nonperforming loan offering, is a repeat buyer affiliated with a minority- and women-owned business.